-  Sunday 24 June 2018

EU clearance boost for ProStrakan

Wed 12 Apr 2006
PROSTRAKAN, the Galashiels-based pharmaceutical company, has been cleared to sell its key testosterone replacement gel across the EU.

Acquired from Cellegy in 2004, Tostrex is a treatment for hypogonadism, a condition causing a lack of testosterone, which affects around one in 200 men. The drug was launched in Sweden last September, but the successful conclusion of the EU mutual recognition programme clears it for sale in 19 other European countries, with launches expected early next year. Yesterday ProStrakan said Tostrex "represents an attractive opportunity for significant near-term revenue growth".

Already well established in North America, where sales are worth around $500 million (£287m) testosterone replacement therapies are expected to be a major growth market in Europe, where annual sales are around 50m (£35m) a year. ProStrakan shares remained unchanged on 113p yesterday in light trading.

The announcement comes less than a month after ProStrakan announced it had received the same mutual recognition approval for Rectogesic, an ointment which relieves chronic anal fissures, currently sold only in the UK.

Source
business




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